© Dukascopy Bank SA
"The underlying fundamentals for the global economy continue to look pretty average. We might see a continuation of this kiwi upside over the next few days, but it's going to come back down to Earth."
-HiFX (based on TVNZ)
Pair's Outlook
NZD/USD touched the highest level in 3 months. It is likely pair will continue to trade on such momentum for few more days, but eventually it should be pushed down by Bollinger band and psychological level (6th of August high) at 0.8219/23.
Traders' Sentiment
Bearish sentiment on the pair has strengthened 11% this week and reached 68% mark. Distribution of pending orders suggest that it should not change much in the near future since traders have posted equal amounts of buy and sell orders on the pair.
© Dukascopy Bank SA